Keyword
Insurance Bureau of Canada
What the P&C industry must do to fight auto insurance fraud
July 31, 2020 by Adam MalikCollaboration within the Canadian P&C insurance industry is key to fighting fraud, but this is tricky because of data sharing and privacy concerns. Fraud concerns have become more pronounced during the novel coronavirus pandemic. P&C industry experts have warned that…
COVID-related fraud schemes that IBC has observed
June 2, 2020 by Greg MeckbachFour vehicles were reported stolen to separate insurers, from the same driveway, on the same night in Brampton, Ont. This is just one example of alleged fraud identified shortly after the onset of the COVID-19 pandemic, the Insurance Bureau of…
Where the federal government sits with its national flood insurance review
May 20, 2020 by Greg MeckbachSix years after the federal government promised to explore options for a national approach to home flood insurance, the feds are still thinking about it. About 13,000 were recently evacuated from Fort McMurray, Alta., because of flooding on the Athabasca…
Don’t count on Canada-wide, high-resolution flood modelling anytime soon
October 10, 2019 by Greg MeckbachFlood maps with a resolution of two metres would be ideal, but don’t expect anything like this Canada-wide anytime soon. The current standard for the spacing of a topographic grid for regional mapping and modelling is 30 metres, as the…
Big Moves – New customer service officer for SGI
August 8, 2019 by Greg MeckbachPaul Mlodzik has left The Co-operators Group Ltd. to oversee a new division at Saskatchewan Government Insurance (SGI). He is now executive vice president and chief customer officer of SGI’s newly-formed customer, communications and marketing division. It’s his second time…
2018 ‘not a good year’ for Canadian P&C insurers: IBC
May 2, 2019 by Greg MeckbachWeak investment results and problems with auto insurance in most provinces were among the factors leading to a bad year for insurers in 2018, Insurance Bureau of Canada’s chairman suggests. “Last year was not a good year for the property…
Regulatory guidance should recognize broker independence, insurers say
October 4, 2018 by Greg MeckbachWhen it comes to market conduct in the property and casualty industry, the regulations should recognize that brokers are independent, an Insurance Bureau of Canada spokesperson says. A guidance paper explaining regulators’ “overarching expectations” on market conduct for brokers, agents…
Flood report: The city that saw a month’s worth of rain in under three hours
August 8, 2018 by Jason ContantA “pocket storm” that dumped a month’s worth of rain on the City of Toronto in less than three hours Tuesday night has resulted in mostly sewer back-up and flooding claims, with few commercial losses, according to claims adjuster ClaimsPro.…
Is the slow pace of regulatory change putting the industry at risk?
June 19, 2018 by Jason ContantThe insurance industry is at risk if regulators don’t recognize that consumer expectations are changing and allow consumers the choice of receiving their policy documents electronically, the president and chief executive officer of the Centre for Study of Insurance Operations…
Southwestern Ontario storm that flooded Brantford cost insurers $57 million
March 20, 2018 by Jason ContantA February storm that affected Brantford, Ont., as well as other areas of southwestern Ontario and Quebec, is estimated to have cost more than $57 million in insured damaged, Catastrophe Indices and Quantification Inc. (CatIQ) said Tuesday. Between Feb. 19…
Ontario’s new medical centres: glorified DAC 2.0?
December 6, 2017 Greg Meckbach, Associate EditorOntario’s new system of independent medical exam centres for auto accident benefits claims, announced Tuesday, will need to be different from the designated assessment centres (DACs) that were abolished in 2006, a former DAC committee chair told Canadian Underwriter Wednesday.…
Ont. auto accident benefits shouldn’t entail ‘arguing about what care is appropriate each and every time’
October 25, 2017 Greg Meckbach, Associate EditorAddressing the problems of both Ontario’s auto insurance and workers compensation systems calls for packages of care that work for most injured people and not for cash settlements, the former chief executive officer of the Workplace Safety Insurance Board suggested…